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Interview with the founder of Karprak, Cédric KANG

2 June 2016

Cédric KANG, graduated from Esigetel, has been living in Cambodia for ten years. KarPrak’s founder, he answered to our questions about his project and its participation at the RISE, the new technologies Summit in Hong Kong taking place from May 31 to June 2.

Cédric, can you introduce your project ?

Karprak is a future online P2P (peer-to-peer) lending platform in cambodia. As indicated by its name, it allows borrowers to finance themselves thanks to other peer investors. Karprak wants to be pioneering by using the last mobile technologies and the social networks in order to answer to the credit issues : origination, risk evaluation, risk diversification and reimbursing.

How was Karprak selected for the RISE ?

An application form had been submitted in September 2015. The Rise’s team contacted us afterward to know more about the project, our background, the project’s interest, the innovation and its progress. During two months, there were several exchanges and we gave them the platform’s draft. We finally received a positive answer in January 2016 to present our project in the ALPHA category.

What do you expect from such a participation to this kind of event ?

Participate to this event offers an international exposure regarding some potential investors who would like to invest in startups. Furthermore, this participation offers exchanges with a community of experts, the access to specific conferences based on this field and also to benefit from the positive emulation of other participating startups.

What are the next steps for Karprak ?

It’s necessary to raise funds regarding the dimension of the project. If this objectif is reached, it may take 9 developing months to realize the prototype which will include a mobile application, the Web platform but also the necessary tools to manage the specific activity linked to the credit management. Then will come a second raise funds allowing the activity to start with the infrastructure and the operational teams, which will be made in two stages :

– a beta version, limited to a certain type of users’ group selected and allowing to tune the business model but most of all, the risk assessment’s part which is a key point (3 months).